Manufacturing Industry
CONOCO POSTS ANOTHER RECORD QUARTER, DESCRIBES JOB OF NEW AUTOMOTIVE MARKET DEVELOPMENT MANAGER FOR CARBON FIBERS.
Advanced Materials & Composites News, February, 2001
Conoco (NYSE:COCA)(NYSE:COCB) in Houston said that higher prices, increased production and strong refining margins produced record-setting results for the fourth consecutive quarter. Net income before special items for the quarter totaled $574 million, or 91 cents per diluted share, 77 percent above the $324 million, or 51 cents per share, earned last year.
Before special items, net income for the year totaled $1.9 billion, or $3.08 per diluted share, 149 percent above 1999. Revenues exceeded $39 billion, 44 percent higher than last year. Business highlights for the quarter included continued construction on the 8-million-pound carbon fibers plant in Ponca City, Okla., with mechanical completion expected in late 2001. Plans are under way to scale-up future...
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